LOS, Database, Equity, Retention Tools; UAD 3.6 Thoughts; Home Prices vs. Inflation; Weak Jobs Data

“A clear conscience is usually the sign of a bad memory.” How’s your memory of rates, and what you did when they moved higher? 30-year mortgage rates were about at this level, briefly, exactly three years ago, but before that we weren’t here since the late 1990’s when they were at these levels for a long time. How many of your sales staff were in the biz then? As the United States’ deficit continues to increase, 5-year Treasury securities, issued at 1 percent, are paying off and the U.S. Government is now having to pay 5 percent on new 5-year T-notes. At the Virginia Mortgage Bankers Association’s Conference, which wraps up today, the talk on the stage and in the hallways revolved around this relatively high rate environment, AI, credit changes, LOs being relevant, and how lenders should pay attention to demographics. Along those lines, the VantageScore news this week will certainly be a topic on Last Word today at 10AM PT when Brian Vieaux, Tracey King, Kevin Peranio, and Christy Soukhamneut discuss changes in credit, AI governance, the UAD 3.6 shift, and industry storylines. (Today’s podcast can be found here. This week’s ‘casts are presented by Gateless, intelligent automation that gives you the competitive edge. Gateless solutions reduce costs, deliver a superior borrower experience, and mitigate risk by automating tasks and decisions historically made by people. Today’s has an interview with Eris Future’s Geoffrey Sharp on how futures contracts replicate the cash flows and functionality of over-the-counter interest rate swaps, and are suitable for short-term trading or long-term hedging.)